Report: Health care law rebates to top $1B
Insurance companies will have to return more than $1 billion this year to consumers and businesses, thanks to a new requirement in President Barack Obama's health care overhaul, a report released Thursday concludes.
"Millions are benefiting because health insurance companies are spending less money on executive salaries and administrative costs, and more on patient care," said Sen. Jay Rockefeller, D-W.Va., a leading advocate of the rebate provision.
The study found the largest rebates will go to consumers and employers in Texas ($186 million) and Florida ($149 million), where Govs. Rick Perry and Rick Scott, respectively, have been among the staunchest opponents of the federal law. Both states applied for waivers from the 80-percent requirement and were turned down.
Rick Perry needs to go buy his insurance on the individual market. I still find it disgusting that he puts health insurance company profits over Texas citizens. I'm glad the feds refused his ridiculous request for a waiver on this requirement.